NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sun Apr 26, 2015 10:01 AM CDT

Live Cattle: The June contract closed $2.20 higher at $151.20 last week. The technical picture for live cattle remains complicated, with chart patterns indicating a resumption of the previous downtrend while weekly stochastics show an uptrend. With the latter a function of the former, price patterns tend to win out over time. That would indicate that June cattle should resume a secondary (intermediate-term) downtrend based on its bearish reversal from the week of April 6. The contract could look to test support between $142.225 and $140.575, prices that mark the 61.8% and 67% retracement levels of the previous uptrend from ...

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